Dec 2025
Conyers advised Petra Diamonds Limited (LSE: PDL) (“Petra Diamonds”) on its recently completed debt refinancing and rights issue.
The refinancing included the extension of Petra Diamonds’ US$99 million revolving credit facility from January 2026 to December 2029, as well as the extension of maturity of its US$228 million senior secured second-lien notes from March 2026 to March 2030, and a ‘payment in cash or equity’ mechanism for its notes.
As part of the refinancing, Petra Diamonds completed a rights issue, raising approximately £18.8 million (US$25.1 million) in aggregate. Petra Diamonds’ shareholders approved the restructuring at a special general meeting on 6 November 2025, which became effective on 28 November 2025.
Petra Diamonds is a South Africa based diamond mining group and supplier listed on the London Stock Exchange.
Conyers lawyers Counsel Karoline Tauschke and Associate Gianmarco Orlando of our London office and Neil Henderson of our Bermuda office advised on this matter, working alongside the London office of Herbert Smith Freehills Kramer.